Facebook has been plunged into crisis over the allegations that Cambridge Analytica misused data from more than 50 million people to help elect Donald Trump. Nearly $40 billion was wiped off Facebook’s market value Monday, an emergency meeting is due to be held Tuesday morning, and CEO Mark Zuckerberg has been criticized for remaining silent during what some analysts are describing as a threat to the company’s existence.
Zuckerberg has been summoned to the British parliament to give evidence about the how it handles people’s personal data. The head of a British inquiry into ‘fake news,’ Damian Collins, has accused Facebook of previously ‘misleading’ a parliament committee, adding: “It is now time to hear from a senior Facebook executive with the sufficient authority to give an accurate account of this catastrophic failure of process.”
As anger grew toward Cambridge Analytica on Monday after Britain’s Channel 4 broadcast a report showing company executives boasting about their extreme propaganda strategies, including filming opponents in compromising situations with Ukrainian sex workers, authorities in the U.K. and the U.S. also questioned whether Facebook mishandled the alleged breach and it’s now facing damaging investigations that will further tarnish its brand.
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